CHINA: SAIC and CP group to make MG in Thailand
SAIC Motor and CP Group of Thailand are planning a joint venture (JV) to produce and sell MG models for the ASEAN region.
Initial spend is around CNY1.8bn (US$286m) with SAIC Motor holding 51% through SAIC Hong Kong Investment Company and SAIC UK while CP Group has 49%.
Car sales will start in 2014 with initial - right hand drive - production planned at 50,000 units a year. Additional models will eventually take annual capacity to 200,000 units.
CP Group has previous experience with Chinese-Thai cooperation and operating joint ventures.